The purpose of this paper is to go beyond the narrow focus of the current institutional economics literature in development on the institutions protecting individual property rights, and to look at the economic effects of some other aspects of institutional quality on the development process...

In a model where cooperation is beneficial, but subject to cheating, and is supported by trigger strategy punishments in a repeated game, we explore the relationship between the nature of cooperation (size and composition of coalitions) and underlying inequality in the distribution of private...

In this paper we note that the institutional context (and therefore the structure of incentives and organization) in developing and transition economies is quite different from those in advanced industrial economies, and this necessitates the literature on decentralization in the context of...

Where such behaviors as risk-taking and hard work are not subject to complete contracts, some distributions of assets (for instance the widespread use of tenancy) may preclude efficient contractual arrangements. In particular, the distribution of wealth may affect: (a) residual claimancy over...

The old growth theory influenced the theory of economic development in several ways. Starting with the basic HarrodDomar structure of capacity growth, development economists paid attention to the constraints posed by savings and the efficiency with which savings are utilized. Growth theory has...